According to Jinshi, the U.S. government's budget surplus in April benefited from increased tax revenue, which was higher than the same period last year, but higher debt servicing costs continued to be a major drag. The budget surplus for the month of April was $210 billion, up 19% year-on-year. However, for the seven months so far this fiscal year, the budget deficit was reported at $855 billion, down 8% year-on-year. A Treasury official said revenue in April benefited from the adjustment of the filing deadline for certain taxpayers affected by natural disasters from fiscal year 2023. The interest burden on the U.S. outstanding debt remains a key driver of increased spending. The interest cost for the first seven months of this fiscal year ending in April was $624 billion, a 36% surge from 2023. The Federal Reserve's aggressive interest rate hikes aimed at curbing high inflation have pushed up debt costs and increased the U.S. budget burden.